DALLAS, May 23, 2012 (GLOBE NEWSWIRE) -- via PRWEB - Triumph Commercial Finance, a wholly owned subsidiary of Triumph Savings Bank, SSB, today announced the naming of two senior executives to lead its asset based lending and equipment finance operations. Dan Karas has been named EVP, Asset Based Lending and Dirk Copple will serve as EVP, Equipment Finance.
"The expansion into asset based lending and commercial finance is a logical next step for Triumph," said Aaron P. Graft, CEO of Triumph Savings Bank, SSB. "Earlier this year, we acquired Advance Business Capital, a best in class factoring company. Our plan was to leverage the strength of Advance Business Capital's leadership team and platform to build a mutli-faceted commercial finance organization. With the addition of Dan Karas and Dirk Copple, we've assembled a top notch team to lead us forward."
"Both of these guys are terrific relationship lenders," said Steven Hausman, who besides leading Advance Business Capital will now serve as President and CEO of Triumph Commercial Finance. "Dan Karas and Dirk Copple have each built organizations that really got to know their customers." George Thorson, Advance Business Capital's Chief Operating Officer, will also serve as the Chief Credit Officer for the Triumph Commercial Finance.
Dan Karas to Lead Asset Based Lending
Dan Karas brings nearly thirty years' of experience in all aspects of commercial finance to Triumph Commercial Finance. For the last five years Karas has been Executive Vice President and Managing Director of Marquette Business Credit, where he led Marquette's general factoring business as well as marketing for its asset based lending platform. Prior to that, he spent seven years at GE Commercial Finance/Heller Financial as Managing Director of the Corporate Lending Group, then the Enterprise Client Group and finally Energy Financial Services. He received his BS in Finance and Management from Temple University and his MBA from the Stern School of Business at New York University.
Said Karas, "I'm thrilled to be joining a team with the capacity, vision and drive to build an organization that delivers superior value to our clients and stakeholders. Triumph Commercial Finance is a client-centric business designed to meet the growth needs of the small and middle market businesses that play such a critical role in our economy."
Dirk Copple to Lead Equipment Financing
Dirk Copple is a twenty-two year veteran of commercial equipment finance, beginning his career the Associates Commercial Corporation and, subsequently, CitiCapital Commercial Corp. He joined Financial Federal Corporation in 2002, building a significant transportation portfolio for the Southwest region. After Financial Federal was acquired by People's United Bank in 2010, Copple's responsibilities were expanded to include construction equipment and other asset financing. He has a BS in Business Administration from the University of Arkansas.
Said Copple, "There's an energy level to this Triumph team that is truly irresistible. Core values are visible and communicated openly, and there's a commitment to doing business the right way. I'm very honored to be part of the Triumph Commercial Finance team."
Triumph Savings Bank, SSB
Triumph Commercial Finance is a wholly owned subsidiary of Triumph Savings Bank. Triumph Savings Bank was founded in November 2010 when a group of investors led by Dallas entrepreneur Aaron P. Graft, acquired and recapitalized the financially troubled Equity Bank, SSB. Triumph is now pursuing its goal of expanding into non-traditional banking sectors. The bank's commercial finance subsidiary, Triumph Commercial Finance, acquired Advance Business Capital, one of the nation's leading transportation factoring companies, in January of 2012.
Said Graft, "When we evaluate any new business opportunity, we primarily focus on the quality of the people who will lead the team. Our secondary consideration is the market fundamentals for the particular segment. Whenever we find outstanding people with experience in structurally underserved market segments, we move quickly. That's what led to the decision to bring Dan Karas and Dirk Copple to Triumph Commercial Finance to lead us into these new markets, and we are very excited about the future."
This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://www.prweb.com/releases/2012/5/prweb9534609.htm
CONTACT: Triumph Commercial Finance Steven Hausman SHausman@abcllc.com 214-513-9610
© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved
Chico Finance Committee asks farmers market for bathrooms, electricity plans - Chico Enterprise-Record
The Chico Finance Committee agreed Tuesday to re-address the market's fees and request for amenities in December.
"We are definitely a year-round asset," said Rob Montgomery of the market's board of directors.
The farmers market was before the committee Tuesday for a review of their $164 annual fee for use of the parking lot between Second and Third streets and Flume and Wall streets. Market representatives told the committee they want permanent bathrooms, electricity, water and permanent signs. About 50 to 80 vendors sell food and other products at the market depending on the season.
Farmers market representatives, community members and city staff filled the seats Tuesday in a conference room of the Council Chambers building.
Richard Coon of the market board of directors said they do not have infrastructure to make improvements, but they are open to doing their fair share.
The market does plan to pay for permanent signs with the city's help to post, Montgomery said.
Councilman Scott Gruendl said he thinks the market would need some guarantees in order to pay for permanent improvements.
Vice Mayor Jim Walker said he does not want to change the fee but he thinks an improvement plan needs to be vetted and researched by the market board.
Walker said $20,000
could be raised in a year with an extra $5 per week fee on vendors and suggested the market raise the rent.Coon said he does not own the space and there is no certainty for the market.
"Would you put $20,000 into someone else's parking lot?" Coon asked.
Walker responded, "I think I would."
Councilman Mark Sorensen said he thinks the fee is artificially low and he agrees a change is needed, such as a longer lease term for improvements.
He questioned if improvements could be made during the planned downtown couplet project, which city staff said was possible.
Montgomery said the market spends $6,000 a year on porta potties, yet he could get a prefabricated bathroom for $30,000.
Sorensen said though the market brings in a lot of foot traffic, it also affects parking.
Heather Keag of the Downtown Chico Business Association said they love the market, but any time parking is removed it's a big issue.
On another issue, the committee voted to change its purchasing procedure threshold for equipment, professional service agreements and contract services from $10,000 to $25,000 for a formal bid. The Chico City Council would be notified of the purchases and the bids would likely go on the web.
The city currently has to put out formal bids for purchases. The code requires a notification in a newspaper, for which the Enterprise-Record charges between $220 and $480 per ad.
Gruendl asked if there is any other place to post a bid.
Sorensen suggested posting the notification online.
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